Can Technology Save an Industry?

Apr 5, 2019 12:05:00 PM

At the Investment Company Institute’s Mutual Fund and Investment Management Conference, which was held in mid-March, Dalia Blass, the SEC’s Division of Investment Management, noted in her keynote speech that the regulator is concerned that competitive pressures are eliminating small fund families from the industry. As a result, the SEC is going to research whether barriers exist in the industry th...

CCO Tech Announces Advisory Board

Mar 28, 2019 11:00:00 AM

CCO Technology is pleased to introduce three experienced entrepreneurs and leaders to inaugurate its new Advisory Board: Jon Dollan, Kimberly Tapia and Craig Chambers. According to Bo Howell, CEO of CCO Tech, the firm wanted insightful leaders to formalize the exchange of ideas between CCO Tech and the industry. “We sought a diverse group of experienced entrepreneurs in the technology, services, a...

CCO Tech Announces Release of Document Manager

Mar 19, 2019 12:47:19 PM

FOR IMMEDIATE RELEASE Cincinnati, OH (March 19, 2019) - CCO Tech announces the release of its Document Manager, the third module of an integrated web-based compliance system for small- and mid-sized registered investment advisers (RIAs). Document Manager integrates with CCO Tech’s SEC Filing Manager and Compliance Calendar to form a comprehensive solution that helps RIAs manage their compliance pr...

CCO Tech - Now at Your Service

Mar 14, 2019 1:00:00 PM

Ever since I founded CCO Tech, we’ve been talking about our proprietary technology and how deeply committed we are to helping you remain independent, protect your reputation, keep your house in order, and achieve peace of mind that your compliance program is buttoned up and exam ready. But we heard from so many of you over the past few months that technology is only part of the solution. Often, yo...

Got Distribution?

Mar 7, 2019 11:05:00 AM

The Growing Complexity of Distribution  ON THE SURFACE, distributing mutual funds appears to be a tremendous opportunity that is ripe for success.  This used to be the case, but as geopolitical and global economic events have transpired over the last 30 years, the challenges of managing money and selling investment product have grown in complexity.  THE NEW REALITY is that the process of distribut...

CCO Tech Expands its Executive Team

Feb 14, 2019 11:00:00 AM

CCO Technology is excited to announce the newest members of its executive team: Dina Tantra and Mark Baltimore, co-founders of Global Rhino, LLC. According to Bo Howell, CEO of CCO Tech, the firm has been focused on building the right team, including leaders in the financial services industry that could bring fresh and thoughtful insight to our mission of helping registered investment advisers aut...

Calling For Beta Testers!

Feb 7, 2019 11:02:32 AM

With the general availability of our SEC Filing Manager and Compliance Calendar modules, and the forthcoming release of Document Manager, CCO Technology is looking for several beta testers to provide user feedback. We strongly believe that real world feedback is the most valuable input we can obtain. User input early on in the development of our application allows us to ensure we are on the right ...

Financial Advisor: What You Personally Have To Know About Regulatory Compliance

Jan 23, 2019 2:17:48 PM

As a chief compliance officer, the risks of non-compliance only continue to grow. Bill Hortz of the Institute for Innovation Development recently spoke to CCO Technology regarding this trend. His interview with our founder, Bo Howell, on the growing importance of developing a detailed and comprehensive compliance strategy is featured in Financial Advisor magazine. The trends in compliance enforcem...

CCO Tech Launches Integrated Compliance Calendar

Jan 16, 2019 9:35:08 AM

FOR IMMEDIATE RELEASE CCO Tech announces the release of its Compliance Calendar, the second module of an integrated web-based compliance system for small- and mid-sized registered investment advisers (RIAs). The Compliance Calendar allows RIAs to schedule their compliance tasks and receive notices and reminders of important dates. The application integrates directly with CCO Tech’s SEC Filing Mana...

An Insider View on How to Evaluate Software Providers

Oct 26, 2018 10:30:00 AM

by Michelle Morgan, Director at Titan Technology Group Over the course of my 25+ years in the finance industry, I have interviewed many software providers. More recently I’ve been on the other side of the table while marketing Titan, a back-office/fund administration platform. As technology overhauls are not something that people undertake daily (because who wants to switch software that often!), ...

Corporate Governance Update: How Delaware law interacts with federal securities law

Oct 4, 2018 8:00:56 AM

For many asset managers and investment companies, the topic of compliance tends to focus on federal securities, particularly Rule 206(4)-7 under the Investment Advisers Act of 1940 (the "Advisers Act) and Rule 38a-1 under the Investment Company Act of 1940 (the "Company Act"). While these rules and the SEC's guidance related to them are important, state law also plays a vital role in compliance. D...

CCO Tech Announces First Ever Compliance Automation Solution for Registered Investment Advisers

Oct 1, 2018 10:30:38 AM

FOR IMMEDIATE RELEASE Cincinnati, OH (October 1, 2018) - CCO Tech today announces the release of its SEC Filing Manager, the first module of an integrated web-based compliance system for small- and mid-sized registered investment advisers (RIAs). SEC Filing Manager automates the completion of Form ADV, the starting point for regulatory compliance filing for every SEC-registered investment adviser....

GDPR in a Nutshell and the Titan Platform*

Sep 21, 2018 8:30:07 AM

* The information in this article is provided for informational purposes only.  No information should be construed as legal advice from Advanced Alternative Investment Systems or the Titan Technology Group, Ltd. or the individual author nor is it intended to be a substitute for legal counsel. Introduction General Data Protection Regulation (“GDPR”) falls under the European Union’s data privacy and...

Welcome to the crossroads of technology and investment management: IM Crossroads

Sep 17, 2018 9:05:51 AM

Dear readers,  Thank you. Since we launched this blog in March 2018, we've seen its subscription grow to over 500 people. We hope that means we're delivering content that you find exciting and unique. (Please let us know if that is not accurate.) But over the past few months, we've noticed a trend in our posts, a trend that reflects our growing interest in the intersection of investment management...

Introduction to the Titan Platform – The New Kid on the Block

Sep 7, 2018 9:15:40 AM

An Interview with Principal Michelle Morgan What do you do when you’ve been looking for software for your fund administration company but can’t find anything that does everything you want?  If you’re Michelle Morgan and Peter McKiernan, Canadian chartered accountants with 25 years industry experience each, you build your own. The business partners are proud to introduce Titan, an all-in-one, cloud...

Introduction: Michelle Morgan and Titan Technology

Sep 6, 2018 4:00:06 PM

Dear Readers, I'm pleased to introduce our newest guest author, Ms. Michelle Morgan. As you know, IM Cincy seeks to cover all aspects of the investment management industry, and Michelle brings a unique perspective, particularly on offshore funds and technology. Michelle is the principal and founder of Titan Technology Group, Ltd. ("Titan"), a Cayman affiliate of Advanced Alternative Investment Sys...

The BIG Reveal: Welcome to the Future of Compliance

Aug 24, 2018 10:00:41 AM

Last week I talked about changing a critical part of our industry to level the playing field for all asset managers. I was talking about compliance. For years now, there's been increasing development in fintech, but it's focused mostly on investing, trading, and business development applications. As these activities have become increasingly automated, a gap has developed between business operation...

Teaser Alert! We are ending this summer with a big reveal!

Aug 18, 2018 7:00:30 AM

Dear IM Cincy Readers, I realize that it has been a few weeks (okay, nearly a month) since I last posted to this blog, and I’m sorry for the delay. I’ve been distracted lately, and rightly so. It wasn’t the heat of summer or the lure of a fun vacation that distracted me, although those did play a part. It was something much bigger. You see, when I started IM Cincy a few months ago, I had a simple ...

The Liquidity Rule Finally Takes Shape!

Jul 13, 2018 8:54:29 AM

In May, we discussed eight things that you needed to know about the liquidity rule in this article. At that time, we noted that part of the rule was due to take effect in December 2018 for large fund families or June 2019 for smaller fund families. The parts that were delayed until 2019 included the liquidity classifications (i.e., the buckets) and the highly liquid minimum requirement.  More impo...

Did AI just result in 13 settlements?

Jul 6, 2018 7:30:55 AM

At the beginning of June, the SEC announced settlements against 13 private fund advisers[1] for failing to provide the required information in Form PF.[2] Generally, Form PF requires information on private funds managed by investment advisers if the total assets of the private funds are over $150 million. The form, which became effective in 2012, asks for information on a private fund’s assets und...

Is 2008 about to repeat?

Jun 1, 2018 8:30:46 AM

Dear Readers, I hope you know that we at IM Cincy are not the type of people that are full of doom and gloom. Nor do we ever intend to cause you stress or panic by our posts. But we are avid readers of The Economist, and we couldn't help but notice two articles in the May 5-11, 2018 publication of that newspaper that paint a less than rosy picture of our current economic situation. Together, these...

IM Director's Recent Remarks on Standards of Conduct & Liquidity Risk Management

May 25, 2018 8:30:21 AM

IM Director's Recent Remarks on Standards of Conduct & Liquidity Risk Management by Peter Michael Allen   Recently, Dalia Blass, Director of the SEC’s Division of Investment Management (IM) commented about the standards of conduct for investment professionals and liquidity risk management for open-end funds, including mutual funds and exchange-traded funds (ETFs). Given that the SEC recently submi...

Peter Michael Allen, IM Cincy's First Guest Author

May 24, 2018 8:30:32 AM

Dear Readers, As you know, IM Cincy is an open forum for investment professionals to contribute thoughtful posts about our industry. Today, we are excited to announce our first guest author, Peter Michael Allen. Peter is a corporate and investment management lawyer that has published several articles in The Investment Lawyer, a print publication covering legal and regulatory issues of asset manage...

NYAG: Retail Investors Really Care about Active Share

May 18, 2018 4:30:15 AM

On April 5, 2018, the New York Office of the Attorney General (NYAG) announced that it had completed an investigation into 14 large fund families, including some of the largest asset management firms in the world. The NYAG’s list included BlackRock, Goldman Sachs Asset Management, JP Morgan & Chase, Oppenheimer, The Vanguard Group, and others. According to the NYAG’s report,  it was investigating ...

8 Things You Need to Know about the Liquidity Rule

May 11, 2018 4:30:33 AM

1. Its name. Most people simply refer to the rule as the “liquidity rule”, but its technical name is Rule 22e-4: Investment Company Liquidity Risk Management Programs. If the rule survives in any meaningful form, we should start a contest on whether the industry keeps calling it the liquidity rule or refers to it as Rule 22e-4. Think of Rule 38a-1 under the Investment Company Act. Some people may ...

Useful Links Now Included on IM Cincy

May 7, 2018 4:30:49 AM

Dear Subscribers, Here at IM Cincy, we have started compiling a list of useful links that may interest you. You can find the links on our website here. Currently, there are a few lists related to the SEC, the DOJ, and others. Over time, we will continue to build our list of useful links. In the meantime, if there are any links that you would like to recommend, please contact IM Cincy at imcincinna...

SEC Decides it's Time to Help Investors Understand the Difference between Brokers and Advisers

Apr 21, 2018 8:31:27 AM

The SEC has finally proposed a rule that will help clarify the distinction between brokers that refer to themselves as "financial advisors" and investment advisers. (We won't get into why it took so long or how this is a response to the Department of Labor's fiduciary rule, which was recently vacated by federal courts.) Most investors are unaware of the difference and the legal standards that appl...

Artificial Intelligence at Service Providers

Apr 19, 2018 2:00:54 AM

In Part 1 of our discussion of the use of artificial intelligence in the investment management industry, we discussed how the SEC is getting big data as its first step to developing AI systems. In this second post of our three-part series, we discuss how AI systems are being used by service providers and the impact of those systems on asset managers. Our next post will discuss how asset managers a...

Artificial Intelligence at the SEC

Apr 16, 2018 2:00:12 AM

For years now, the concept of “Big Data” has been wildly popular in the business world. It seemed that everyone who was anyone was using big data to improve performance, boost revenue, and break into new markets. For true technology innovators, big data was the first step to something bigger: artificial intelligence. Machines need enormous amounts of data to develop artificial intelligence. AI dev...

Liquidity is Out, ETFs are In

Apr 7, 2018 4:43:26 PM

The SEC’s stance on its not-yet-effective liquidity rule appears fluid, as commissioners push to abandon part of the rule and certain division heads move on to other topics. At the 2018 ICI Mutual Funds and Investment Management conference, Commissioner Hester Peirce and division director Dalia Blass signaled the possible end of the liquidity rule as an emphasis of the SEC. Commissioner Hester not...